Even though implementation of the standard has been delayed, companies should get a jump on analyzing its effects and evaluating tax methods. Companies waiting until the last minute to understand the ...

The Internal Revenue Service is proposing procedures for how a taxpayer can ask for automatic consent to change an accounting method in preparation for the Financial Accounting Standards Board’s new ...

I recently wrote a blog on considerations for MD&A disclosures on adoption of the new revenue recognition standard. After learning a few Form 10-Qs had been filed by early adopters, I took a look to ...

The core principle of the Financial Accounting Standards Board’s new revenue recognition standard is that an entity should recognize revenue to depict the transfer of goods or services to customers in ...

Revenue recognition has always represented a challenge for the construction sector. This basic accounting principle defines the how and when a business addresses income it earns through contracted ...

On May 28, 2014, FASB and IASB jointly announced new financial accounting standards for revenue recognition, titled “Revenue from Contracts with Customers (Topic 606).” For publicly-traded entities, ...

The IRS is asking for comments on proposed procedures for requesting consent to make accounting method changes to reflect FASB’s new revenue recognition standards (Notice 2017-17). The proposed ...

The overwhelming majority of U.S.-based public companies are choosing the less onerous – but riskier – of two possible methods for complying with the transformative new accounting rules for ...